Operational Preview | 2Q24
Villares Parada Inglesa common area perspective
Highlights:
- The company achieved its second-best quarter of sales, increasing 72.6% and 14.3% compared to 1Q24 and 2Q23.
- Villares Parada Inglesa, one of the quarter's launches, is approximately 93% sold.
- Reduction in the volume of stock compared to 1Q24 and 2Q23. Inventory turnover currently stands at 14 months, compared to 28 months in 1Q24.
Operational Preview 2Q24
Launches
The Company launched two projects in 2Q24, totaling a %EZ PSV of R$188.3 million. The first launch of the quarter was Villares Parada Inglesa, a partnership with NISS, a middle-income development next to the Parada Inglesa subway station. In less than three months of sales, the project is 93% sold. After this launch, the Company launched Brooklin Studios by Lindenberg (a tower attached to Vista Brooklin, launched in 1Q24), which is currently 60% sold. These VSO launches reinforce the Company's strategy of increasing its launches without increasing its inventory volume.
At the end of the quarter, the Company commercially launched the Lindenberg Ibirapuera Design Tower¹, with a %EZTEC PSV of 300MM, another project in partnership with Construtora Adolpho Lindenberg and with less than a month on the sales stand, is 32.6% sold.
93%sold
Villares Parada Inglesa (April/24)
YEAR'S LAUNCHES | %EZTEC | SPE | ||||||
INFORMATION | ||||||||
1Q | ||||||||
Mooca Città - Firenze | 50% | Barão de | ||||||
Monte Santo | ||||||||
Income
Equity
Under
Suspensive Region Clause
No | SP city |
Brooklin Studios by Lindenberg (June/24)
Expected | # Units | Private area | ||||||||||
Location | Standard | (residential | ||||||||||
Delivery | (sq. m.) | |||||||||||
+ non res.) | ||||||||||||
419 | 53,886 | |||||||||||
East Zone | Middle-High | 1Q27 | 186 | 14,820 | ||||||||
60%sold
% Sold | PSV %EZ | |||
(R$ MM) | ||||
36.1% | 457.5 | |||
50.6% | 129.7 |
Mooca Città - Milano | 50% | Barão de | Equity | No | SP city | East Zone | Middle-High | 1Q27 | 168 | 21,324 | 29.3% | 84.8 | |||||||||||||||
Monte Santo | |||||||||||||||||||||||||||
Lindenberg Vista | 75% | Nova Prata | Consolidated | Yes | SP city | South Zone | High-end | 3Q27 | 65 | 17,741 | 32.2% | 243.0 | |||||||||||||||
Brooklin¹ | |||||||||||||||||||||||||||
2Q | 583 | 22,996 | 86.1% | 188.3 | |||||||||||||||||||||||
Villares Parada Inglesa | 75% | Pirituba | Consolidated | No | SP city | North Zone | Middle-end | 2Q27 | 373 | 18,054 | 93.1% | 137.7 | |||||||||||||||
Brooklin Studios by | 75% | Nova Prata | Consolidated | Yes | SP city | South Zone | High-end | 3Q27 | 210 | 4,942 | 59.8% | 50.6 | |||||||||||||||
Lindenberg | |||||||||||||||||||||||||||
YEAR-TO-DATE | 1,212 | 76,882 | 50.8% | 645.9 | |||||||||||||||||||||||
¹As Lindenberg Ibirapuera Design Tower was launched in 4Q24, its status is "Under Construction" and will not appear in the launches table for the quarter.
Despite reduction in launches, company increases sales volume | Company launches middle income projects again |
Yearly evolution of the PSV of launches %EZ | Comparison of launch profiles |
475 | 458 | |||||||||||
300 | ||||||||||||
R$ millions | 188 | |||||||||||
85 | ||||||||||||
2Q23 | 3Q23 | 4Q23 | 1Q24 | 2Q24 |
R$ millions
High-End | |||
294 | |||
High-End | |||
427 | |||
Middle-high | |||
215 | |||
Middle-high | |||
Middle-end | |||
175 | |||
138 | |||
1Q24 | 2Q24 |
Operational Preview 2Q24
Sales
The company achieved its second-best quarter in terms of sales. This increase was due to the performance of Villares and the sale of completed projects. Net VSO increased by 7.8 p.p. compared to 1Q24. About 1H23, cancellations fell by 31.7%, increasing net sales by 1.8%.
2Q24 | |
Gross Sales (R$ million PSV) | 556.0 |
1Q24 | %Var | 2Q23 | %Var | 1H24 |
322.1 | 72.6% | 486.6 | 14.3% | 878.1 |
1H23
900.5
%Var
-2.5%
Average price per unit (R$ thousands) | 693.3 |
658.7 | 5.2% | 731.7 | -5.3% | 680.2 | ||
673.0 1.1%
Gross SOS (%) | 17.9% | 9.6% | 8.2 p.p. | 15.0% | 2.9 p.p. | 25.6% | 24.6% | 1.0 p.p. |
Gross SOS - Launch (%) | 41.5% | 16.8% | 24.6 p.p. | 28.8% | 12.6 p.p. | 45.1% | 38.6% | 6.4 p.p. |
Gross SOS - Inventory (%) | 13.0% | 8.2% | 4.7 p.p. | 11.3% | 1.6 p.p. | 19.8% | 21.0% | -1.2 p.p. |
Cancellations (R$ milhões) | 47.9 |
30.8 | 55.7% | 67.5 | -29.0% | 78.7 | ||
115.1 -31.7%
Net Sales (R$ million PSV) | 508.1 |
291.3 | 74.4% | 419.1 | 21.2% | 799.4 | |||
785.4 1.8%
Launch 219.0
91.9 138.4% 103.9 110.8% 310.9
158.5 96.1%
Performed | 136.2 | 48.8 | 179.2% | 57.1 | 138.6% | 185.0 | 132.9 | 39.2% |
Under Construction | 152.8 | 150.7 | 1.4% | 258.1 | -40.8% | 303.5 | 494.0 | -38.6% |
# units sold | 891 | 483 | 84.5% | 667 | 33.6% | 1.374 | 1.352 | 1.6% |
Cancellations / Gross Sales | 8.6% | 9.6% | -0.9 p.p. | 13.9% | -5.3 p.p. | 9.0% | 12.8% | -3.8 p.p. |
Net SOS (%) | 16.6% | 8.8% | 7.8 p.p. | 13.2% | 3.4 p.p. | 23.8% | 22.1% | 1.7 p.p. |
Net SOS LTM (%) | 33.4% |
28.3% | 5.1 p.p. | 35.3% | -1.8 p.p. | 33.4% | ||
35.3% | -1.8 p.p. |
Gross Sales Description (2Q24)
R$ millions
Evolution of Gross Sales status (2Q24)
R$ millions
High end
Middle-high end
Medium end
Smart-living
Low end
Commercial
42 | 162 | 68 |
3 5 31
47 | 1 | 125 |
26 | 6 | ||
24 | 9 | Performed | |
Under | ||
construction | ||
5 | Lauches | |
Performed
Under
construction
Lauches
150
63
64
184 | |||
167 | |||
228 | |||
222 | |||
92 | 1Q24 | ||
195 | 4Q23 | ||
1Q23 | |||
Operational Preview 2Q24
Inventory
The company ended the first half of the year with an inventory of 2.5 billion, a reduction compared to 1Q24 and 2Q23. Thanks to the commercial strategy, it was possible to reduce the number of ready projects, projects under construction, and launches compared to the previous quarter and year.
2Q24 | ||
Inventory %Eztec (R$ million PSV) | 2,558 | |
1Q23 | %Var | 2Q23 | %Var |
3,025 | -15.4% | 2,763 | -7.4% |
Launch Inventory (PSV) | 313.2 |
455.4 | -31.2% | 481.2 | -34.9% |
Launch Inventory (units) | 383 | 109 | 251.4% | 402 | -4.7% | ||||||
% Total (PSV) | 12.2% | 15.1% | -2.8 p.p. | 17.4% | -5.2 p.p. | ||||||
Under Construction Inventory (PSV) | 1,544.1 | 1,750.0 | -11.8% | 1,833.5 | -15.8% | ||||||
Under Construction Inventory (units) | 1.471 | 2.013 | -26.9% | 3.339 | -55.9% | ||||||
% Total (PSV) | 60.4% | 57.9% | 2.5 p.p. | 66.3% | -6.0 p.p. | ||||||
Performed (PSV) | 700.8 | 819.3 | -14.5% | 448.7 | 56.2% | ||||||
Performed Inventory (units) | 833 | 892 | -6.6% | 520 | 60.2% | ||||||
% Total (PSV) | 27.4% |
27.1% | 0.3 p.p. | 16.2% | 11.2 p.p. |
Empreendimento
Status | 51% of the inventory is high-end residential |
Signature | Under Construction | PSV of inventory by standard - %EZTEC | |||||||||||
ID Paraíso | Under Construction | R$ millions | |||||||||||
Dream View Sky Resort | Under Construction | High-End | 1.323 | ||||||||||
Arkadio | Under Construction | Middle High-End | 415 | ||||||||||
In Design Ipiranga | Under Construction | ||||||||||||
Pin Osasco - 1ª Fase | Under Construction | Middle-End | 330 | ||||||||||
Unique Green - 1ª Fase | Under Construction | Smart Living | 302 | ||||||||||
Exalt | Under Construction | ||||||||||||
Commercial | 117 | ||||||||||||
Expression | Under Construction | ||||||||||||
Villa Nova Fazendinha | Under Construction | Low-End | 70 | ||||||||||
Hub Brooklin | Under Construction | ||||||||||||
Haute Brooklin | Under Construction | 77% of the Inventory under construction is in the South Zone | |||||||||||
Unique Green - 2ª Fase | Under Construction | ||||||||||||
Pin Osasco - 2ª Fase | Under Construction | PSV of inventory by region - %EZTEC | |||||||||||
Park Avenue | Under Construction | R$ millions | |||||||||||
Chanés Street | Under Construction | South Zone | 397 | 1.183 | 178 | ||||||||
Jota Vila Mariana | Under Construction | ||||||||||||
East Blue | Under Construction | East Zone | 72 | 181 | 122 | ||||||||
Lindenberg Ibirapuera - Art Tower | Under Construction | ||||||||||||
Lindenberg Alto de Pinheiros | Under Construction | West Zone | 24 169 | ||||||||||
Lindenberg Ibirapuera - Design Tower | Under Construction | ||||||||||||
Mooca Città - Firenze | Launch | Guarulhos | 167 | Performed | |||||||||
Mooca Città - Milano | Launch | Osasco | 26 | 11 | |||||||||
Lindenberg Vista Brooklin | Launch | Under Construction | |||||||||||
Villares Parada Inglesa | Launch | Others | 16 13 | Launches | |||||||||
Brooklin Studios by Lindenberg | Launch | ||||||||||||
Operational Preview 2Q24
Deliveries
The company plans to deliver R$764 million in 2024, currently, 79% sold, with the most significant volume of deliveries scheduled for 4Q24. In 2Q24, Fit Casa Estação José Bonifácio and Fit Casa Estação Oratório were delivered.
INFORMATION ON DELIVERIES | %EZTEC | SPE | Type | % Sold | PSV %EZ | ||||||||||
PLANNED FOR THE YEAR | (R$ MM) | ||||||||||||||
2Q24 | 81.3% | 150.7 | |||||||||||||
Fit Casa Estação José Bonifácio | 100% | Bartira | Consolidated | 84.2% | 135.1 | ||||||||||
Fit Casa Estação Oratório | 100% | Santa Laura | Consolidated | 50.5% | 15.6 | ||||||||||
3Q24 E | 66.3% | 191.9 | |||||||||||||
Signature | 50% | Itatiaia | Equity | 76.8% | 97.3 | ||||||||||
In Design Ipiranga | 100% | Catalão | Consolidated | 20.5% | 66.5 | ||||||||||
ID Paraíso | 50% | Itatiaia | Equity | 90.6% | 28.1 | ||||||||||
4Q24 E | 81.6% | 421.6 | |||||||||||||
Dream View Sky Resort | 100% | Santa Laura | Consolidated | 61.3% | 252.7 | ||||||||||
Pin Osasco - 1st phase | 60% | Criciúma | Consolidated | 89.7% | 41.3 | ||||||||||
Villa Nova Fazendinha | 60% | Granja Viana I | Equity | 99.2% | 84.1 | ||||||||||
Pin Osasco - 2nd phase | 60% | Criciúma | Consolidated | 84.7% | 43.5 | ||||||||||
YEAR-TO-DATE (E) | 78.6% | 764.2 | |||||||||||||
Reduction in deliveries expected by 2024, with 79% of units sold
Annual evolution of the PSV delivered and its percentage sold as a % of the private area
2.307
% Sold PSV in Inventory
1.828
R$ million
88% | 72% | ||||||||||||||||||
1.163 | |||||||||||||||||||
748 | 768 | 764 | |||||||||||||||||
98% | 96% | ||||||||||||||||||
435 | 61% | 458 | |||||||||||||||||
79% | |||||||||||||||||||
99% | |||||||||||||||||||
23% | |||||||||||||||||||
2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 |
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Investor Relations Team